Hanoi expects EIB's further support for public transport

NDO - Hanoi values the capacity of the European Investment Bank (EIB) and hopes for further cooperation with the bank to develop the capital city's urban metro system.

Vice Chairman of the Hanoi municipal People's Committee Nguyen The Hung made the remarks at the meeting with EIB Vice President for Asia Jonathan Taylor in Hanoi on January 10.

Hung said that Hanoi is boosting the transport infrastructure development and environmental protection, adding that the city will build nine metro lines with a total length of 410km.

He noted that Hanoi is constructing the metro lines 2A and 3 which use official development assistance (ODA) from many lenders, including the EIB.

The EIB will provide Vietnam with over EUR140 million for the construction of metro line 3 and purchase of new rolling stock on the line which accounts for 15% of the total investment capital of the metro project.

EIB Vice President for Asia, Jonathan Taylor said that it is a big challenge for Vietnam and Hanoi in particular to meet transport demand, adding that the development of the urban metro system will be a suitable solution for Vietnam in a bid to reduce personal vehicles and promote public transport.

The EIB Vice President affirmed that the bank will continue to cooperate with Vietnam and Hanoi in the areas of its competence with priority given to environmental issues and climate change mitigation.